A federal judge has ruled against Custodia Bank Inc., a Wyoming-based depository institution, in its lawsuit to secure a Federal Reserve master account.

Custodia Bank had contended that the Federal Reserve Bank of Kansas City (FRBKC) was legally required to approve its application for a master account, which is essential for performing a range of financial operations.

This decision represents a significant roadblock for Custodia Bank in its pursuit to access crucial financial infrastructure.